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As new financial and payment services arise in the market place, traditional banks are experiencing a clear setback in customer loyalty. At the same time, many banks have invested highly in digital channels to customer, although mostly for routine matters and transactions.
The customer only meets the bank in the counseling situation, and this is where the bank creates loyalty. Very few, or maybe no bank at all, have yet made use of digital services for personal counselling. And while the need is huge, the trust from the younger generation is declining, which is why banks need to climb higher up the value chain - from traditional transactions back to personal financial advice - in a digital form.
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